Jatin Verma is teaching live on Unacademy Plus
want fo be start but th Page 12: Xi opens world's longest sea bridge Chinese President inaugurated a 55-km Hong Kong-Macau-Zhuhai Bridge (HMZB) bridge that will deepen the integration of Hong Kong and Macao with the rest of China. The world's longest sea-crossing bridge will be at the heart of an integrated Greater Bay Area (GBA) covering 11 major neighbouring cities, which include Hong Kong, Macao, y has ree Guangzhou and Shenzhen. The giant GBA comprising 68 million people is expected to rival the San Francisco Bay Area of the U.S. as well as the Tokyo Bay Area of Japan. The opening of the bridge docks with the start of a bullet train last month between Hong Kong and Guangzhou, the gateway to the rest of mainland China. Analysts see the opening of the HMZB as a symbol validating the 'One country, Two Systems' formula under which Hong Kong and Macao have substantial political autonomy while remaining part of China. The bridge has been built to withstand super-typhoons, a magnitude-8 earthquake, as well as u hits by super-sized cargo ships. cause t ferent kand stay 7 km underground sea tunnel to allow uninterrupted flow of shipping above, along th super-busy Pearl River Delta, is also part of the bridge's design. In the end, it will cut the travel time between the three cities from three hours to just 3 minutes. It took about a decade to build the $20 billion bridge.
want fo be start but th Page 13: CAG questions RBI's role when NPA crisis was brewing . Comptroller and Auditor General of India questioned the role of the Reserve Bank of India (RBI) during the time when the banks were "going berserk with their lending", leading to the high levels of NPAs, saying that there was no public discourse on the role of the central bank p during this period rev eHe also highlighted that there was a lack of any public policy debate about the root causes of the bank non-performing assets problem As of the end of March 31, 2018, the banking sector had NPAs worth over 9.61 lakh crore, according to government data .oea ink h cause ferent pu kand stay
want fo be start but th Page 13: Centre's refusal to provide IGST refund hurts exporters While exporters are saying that a large part of their working capital is tied up in the Integrated Goods and Services Tax (IGST) they have paid on inputs, the government in a recent circular said that it would not be refunding this amount to them since it has already p paid them a drawback on the taxes they have paid. rev e.Exporters, however, say that the drawback amount paid back is only a fraction of the total amount they have paid and that most of it is locked in IGST. Legal position The system of drawback is such that exporters were eligible for two options: either an ink h industry-wide drawback rate, or a higher brand rate. The law says that when you claim a drawback, then you cannot claim any other benefits, and i pur the exporter has to sign this while claiming drawbacks. . kand stay . During the period of transition of GST, exporters opted for higher drawback rate instead of an IGST refund. But the drawback amount turned out to be much lesser than IGST refund
want fo be start ut th Cascading Effect of taxes on Final prices of Goods & Services 10% Tax on RAW. phMaterial Again tax @ 15% 200+30-230 Rs After Processing Rs 200 Pears rew R.10010 So Total Tax incidence Rs. 10+20- Rs. 30 pe an remt Rs. 230 plus Sales tax on Retailer @10% MRP. Rs. 253. So, Tax on Tax leads to Cascading effect. GST by providing Input Tax Credit eliminates Cascading Kand
want fo be start but th Concerns The actual amounts tied up in IGST ran to 20 lakh each or so, whereas what they received as drawback was only . 5-6 lakl . The current system creates an unfair advantage for exporters operating in a single State, as h opposed to those who have operations that cross State lines. Exporters get a refund of CGST reve eand SGST for business in a single state but IGST is not refunded for exporters doing business across states. . The drawback rate should be identical to the IGST or the government should refund IGST if it does not amount to a loss of revenue for the government. ink h cause ferent pu kand stay
.dI 8196 11:56 Thank you Jatin Verma 155k Followers Follow Ratings & Reviews Roman Saini A great course by Jatin Verma where he has literally covered all the important news from The Hindu. Must watch. Mohit Rai If i achieve my aim, my first salary will go to this great individual making this great informative and well-researched videos. I should take this opportunity to thanlk and congratulate him for the wonderful work he is doing for all the aspirants. He is meticulous and almost perfect in his approach and understanding. Please keep making such videos as a single 26k Enrollments Enroll